Capital gain incase of Sale of flat
This query is : Resolved
10 April 2022
Dear Sir,
One of my client is selling a property in which she is the second holder of the property whereas his husband is the first holder of the property as per Sale Agreement.
While arriving at the capital gain calculation there is a Long term capital gain of Rs. 17 lacs in total once they sell it in AY 2023-24.
My question is that can this capital gain be taken in the wife's name instead of dividing it equally with husband as wife has previous carry forward losses of Rs. 25 lacs in her name for selling another property at loss in previous year i.e. AY 2022-23 in which wife was the sole owner.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client is selling a property in which she is the second holder of the property whereas his husband is the first holder of the property as per Sale Agreement.
While arriving at the capital gain calculation there is a Long term capital gain of Rs. 17 lacs in total once they sell it in AY 2023-24.
My question is that can this capital gain be taken in the wife's name instead of dividing it equally with husband as wife has previous carry forward losses of Rs. 25 lacs in her name for selling another property at loss in previous year i.e. AY 2022-23 in which wife was the sole owner.
Please help me in this matter.
Regards,
Divyesh Jain
10 April 2022
Once it is a joint property and shares of both shall be deemed to be equal unless otherwise specified in the conveyance deeds, it is not advisable to include entire gain in the hands of one owner.
11 April 2022
Thank you Sir for your valuable suggestion.
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